3 ms·

Sorry for the stupid question, but what do people mean by capitalism?

• rufusroflpunch 5y ago
  In modern mixed economies, people on the left say that whatever is less than ideal about the economy is capitalism and people on the right say it is socialism. So it’s in the eye of the beholder, terminology be damned.
• pattrn 5y ago
  I think it's technically defined as private ownership of the means of production, but don't quote me on that. My last economics class happened many years ago.
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• lsiebert 5y ago
  You know how invested money can make money through investment in businesses or property which is then operated to produce profitable goods and services by employees, contractors, renters, leasees, slaves etc, rather than you having to make money from your property and business through your own labor or as an equal partner? That's capitalism.
• AnimalMuppet 5y ago
  A definition I like is that it means the re-investment of (at least some) profits into more and/or better tools and processes.
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